the congressional budget office has warned if the u.s. economy goes over the fiscal cliff, unemployment next year will jump to over 9%. >> susie: hiring is also a big concern for the federal reserve. those worries could lead the central bank to extend its bond buying program to keep stimulating the economy. ruben ramirez reports from washington. >> reporter: the latest talk inside the fed is that its asset purchase plan appears to be working. fed policymakers say the strategy is helping financial markets, auto buying, and housing. that's why economist think the fed's buying spree continues into next year: >> a number of participants continue to expect that they are going to replace operation twist with straight asset purchases once operation twist expires in december. >> reporter: the fed has been buying back about $85 billion a month of long term bonds and mortgage backed securities. in minutes of its last meeting release today, fed officials, "generally agreed that a recovery in housing activity now appeared to be under way." but while